On Holding AG (NYSE:ONON) Receives Average Rating of “Buy” from Analysts

Shares of On Holding AG (NYSE:ONON) have been given an average rating of “Buy” by the twenty-three brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $61.90.

Several equities research analysts have recently issued reports on the company. Citigroup assumed coverage on ON in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $64.00 price target on shares of ON in a research note on Tuesday, March 4th. Bank of America started coverage on ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target for the company. HSBC raised ON from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $67.00 price target on shares of ON in a research note on Tuesday, March 4th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Apollon Wealth Management LLC boosted its position in shares of ON by 74.0% in the 4th quarter. Apollon Wealth Management LLC now owns 16,005 shares of the company’s stock worth $877,000 after purchasing an additional 6,808 shares in the last quarter. RB Capital Management LLC lifted its position in ON by 214.8% during the 3rd quarter. RB Capital Management LLC now owns 22,426 shares of the company’s stock worth $1,125,000 after acquiring an additional 15,303 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of ON by 34.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,376,850 shares of the company’s stock valued at $76,213,000 after buying an additional 349,789 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of ON in the 4th quarter valued at about $30,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of ON by 584.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,651 shares of the company’s stock valued at $4,195,000 after buying an additional 71,436 shares during the period. 36.39% of the stock is currently owned by hedge funds and other institutional investors.

ON Price Performance

NYSE:ONON opened at $45.56 on Friday. The firm has a market capitalization of $28.68 billion, a price-to-earnings ratio of 105.94, a PEG ratio of 1.02 and a beta of 2.35. ON has a 1 year low of $29.84 and a 1 year high of $64.05. The business has a 50 day simple moving average of $53.26 and a 200-day simple moving average of $52.57.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.